Telefónica sells 60% of its subsidiary in Chile 

The telecommunications company expects to close operations in the first half of 2021

The telecommunications company Telefónica has announced the sale of 60 % of its infrastructure company in Chile called InfraCo to the international investment firm KKR, for 600 million dollars, as reported this Monday by the National Commission of the Stock Market (CNMV). 

The statement indicates that the transaction values ​​InfraCo at 1,000 million dollars, equivalent to 822 million euros. This figure represents a multiple over Oibda 2020 of 18.4 times.

As reported by Telefónica in a press release after the announcement, the agreement is expected to be finalized in the first half of the year to fulfill profitable growth, value maximization and new models being developed that allow modulating the exposure of the group to the region.

Each of these objectives would comply with the operational and management model established by the telecommunications company and give continuity to the segregation strategy of its business unit in Latin America.

It is important to highlight that Telefónica has kept working on this expansion strategy to continue offering its services in the main markets of the world such as: Spain, Brazil, Germany and the United Kingdom. 

K.Vilarroel

Source: bancaynegocios

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